Ripple announces the global launch of RLUSD, an innovative stablecoin designed for stability, utility, and compliance. Supported by industry leaders and unparalleled transparency, RLUSD aims to revolutionize digital payments.
Let’s see all the details in this article.
The stablecoin RLUSD by Rippls debuts on major global exchanges: unprecedented security, utility, and transparency
Ripple, a global leader in digital asset infrastructure, has officially announced the launch of Ripple USD (RLUSD), a next-generation stablecoin that will be available starting tomorrow, December 17, 2024, on major global exchanges.
This stablecoin, fully backed by reserves in US dollars and equivalent financial instruments, stands out for its focus on security, reliability, and transparency.
Brad Garlinghouse, CEO of Ripple, emphasized the importance of compliance and trust:
“We have chosen to launch RLUSD under the New York trust company charter, the regulatory gold standard globally. With clearer regulations on the horizon, stablecoins like RLUSD will represent a fundamental pillar for financial innovation.”
RLUSD will initially be available on platforms such as Uphold, Bitso, MoonPay, and CoinMENA, with further integrations coming soon. Each RLUSD token will be accompanied by independent monthly attestations to ensure maximum transparency on reserves.
Thanks to its compatibility with both the XRP Ledger and the Ethereum blockchain, RLUSD offers flexibility for a wide range of applications, from cross-border payments to decentralized finance (DeFi).
The main financial institutions and payment platforms partnering with Ripple are already adopting RLUSD to optimize remittances, liquidity, and treasury operations in areas such as the Americas, Asia-Pacific, and the Middle East.
Next year, Ripple Payments will use RLUSD to manage global transactions, consolidating its position as a leader with a payment volume of over 70 billion dollars.
A vision guided by industry leaders
To testify Ripple’s commitment to the sustainable growth of RLUSD, two prominent figures will join the advisory committee.
That is Raghuram Rajan, former governor of the Reserve Bank of India, and Kenneth Montgomery, former first vice president of the Federal Reserve Bank of Boston.
Both will contribute with their strategic experience to tackle the regulatory challenges and finance the expansion of the stablecoin.
According to Rajan:
“Stablecoins like RLUSD can become a cornerstone of modern payments, offering reliability and scalability. I am excited to contribute to the growth of RLUSD in this evolving financial landscape.”
Montgomery added:
“Stablecoins are redefining the future of payments, overcoming the inefficiencies of traditional systems. I look forward to collaborating with Ripple to promote financial inclusion and global innovation.”
With RLUSD, Ripple not only introduces a new stablecoin, but establishes a new standard of trust and transparency in the world of cryptocurrencies. The company thus confirms its leadership in shaping the future of global digital finance.